Good Morning, Traders!…👋

Stock futures are in the red this Wednesday as the market braces for the Federal Reserve’s preferred inflation gauge—the last major economic data release before the Thanksgiving break.

In the energy market, oil prices edged slightly higher. Brent crude rose 0.2% to $72.47 per barrel, while West Texas Intermediate climbed 0.3% to $68.98 per barrel, following news of a ceasefire agreement between Israel and Lebanon to ease tensions with Hezbollah.

Bond yields held steady over the past 24 hours, with the 10-year U.S. Treasury yield at 4.277% and 2-year notes at 4.237%.

The major stock movers today include Dell, which saw its shares tumble following a weaker-than-expected revenue forecast. CrowdStrike experienced mixed market reactions to its fourth-quarter earnings outlook, while HP Inc.'s stock dropped after the company reported quarterly revenue that fell short of expectations.

Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

✓ 08:30 AM ET – Core PCE Price Index (MoM) (YoY) (Oct)

✓ 08:30 AM ET – GDP (QoQ) (Q3)

✓ 09:45 AM ET – Chicago PMI

✓ 10:30 AM ET – Crude Oil Inventories

PREMARKET SNAPSHOT 📈

Market futures are mixed, with the S&P 500 and NASDAQ showing declines, while the Dow remains flat.

SECTOR SNAPSHOT✨

Yesterday, the market showed positive movement in several sectors. Consumer Discretionary, Consumer Staples, and Health Care saw notable increases, rising by 0.90%, 0.65%, and 0.45%, respectively. Information Technology and Communication Services also performed well, with gains of 0.80% and 0.81%. Utilities had a standout performance, increasing by 1.56%. However, Energy and Materials were down by 0.23% and 0.67%, respectively, offsetting some of the broader market gains. Financials and Industrials saw slight increases, up by 0.21% and 0.15%.

PreMarket Unusual Volume Stocks

📈 HWH International Inc (HWH) experienced a remarkable trading session, with its stock price surging 87.61% to close at $1.06. The trading volume was an impressive 9.4 million shares, far exceeding its average of 126K. This significant spike indicates heightened investor interest and optimism about the company’s prospects.

📈 Cyclerion Therapeutics Inc (CYCN) posted a strong 70.59% gain, closing at $2.32. The trading volume reached over 14.8 million shares, greatly surpassing its average of 227K. This dramatic increase reflects strong market enthusiasm, likely driven by potential positive developments or news.

📈 Infobird Co Ltd (IFBD) saw its stock price rise by 48.90%, closing at $2.71. The company traded over 5.6 million shares, well above its average of 104K. This sharp increase highlights growing investor confidence in the company's future performance.

📈 Interactive Strength Inc (TRNR) recorded a stellar 73.45% gain, with its stock price reaching $4.77. The trading volume was 4.5 million shares, significantly higher than its average of 707K. This strong performance suggests renewed interest and potential positive catalysts for the company.

📈 Kaixin Holdings (KXIN) saw its stock price increase by 27.04%, ending the session at $2.49. The trading volume reached 5.2 million shares, significantly exceeding its average of 1.5 million. This rise reflects a positive market response and growing investor optimism.

Premarket Picks

Ambarella, Inc. (AMBA) pre-market price surged to $82.50, reflecting a 20.60% increase. The spike follows the company's announcement of its third-quarter fiscal year 2025 financial results, which ended on October 31, 2024. The company reported revenue of $82.7 million for the quarter, marking a 63% increase from $50.6 million in the same period of fiscal 2024.

Portage Biotech Inc. (PRTG) saw its pre-market price rise to $5.99, up 23.00%. This surge came after the company reported its fiscal quarter results for the period ending September 30, 2024.

Creative Global Technology Holdings Limited (CGTL) pre-market price reached $4.50, reflecting a 15.09% surge. This increase followed the company's announcement of the pricing for its initial public offering (IPO). The offering consists of 1,250,000 ordinary shares priced at $4.00 each, raising a total of $5,000,000 before expenses.

Tenaya Therapeutics, Inc. (TNYA) experienced a 10.03% increase in its pre-market price, reaching $3.62. The rise followed the announcement that the first patient was dosed with TN-401 gene therapy in the RIDGE-1 Phase 1b clinical trial at the University of California, San Francisco.

Below is a complete list of hot stocks in pre-market today:

Top Upgrades:

1. Urban Outfitters, Inc. (URBN)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $59
Yesterday's Close: $40.14

Citi raised its rating on Urban Outfitters to Buy from Neutral and increased its price target to $59 from $42.

Urban Outfitters, Inc. has an estimated stock price target range with a high of $53.00, a median of $44.00, and a low of $36.00. The average price target is $44.45. Urban Outfitters offers lifestyle-oriented general merchandise and consumer products through its portfolio of global brands. It operates 264 stores across the United States, Canada, and Europe.

2. DICK'S Sporting Goods, Inc. (DKS)

Analyst Firm: UBS
Upgrade: Neutral to Buy
Price Target: $260
Yesterday's Close: $212.22

UBS upgraded Dick's Sporting Goods to Buy from Neutral, raising its price target to $260 from $225.

DICK'S Sporting Goods (DKS) has a stock price target ranging from a high of $280.00 to a low of $207.00, with a median of $250.00 and an average of $247.76. DICK'S creates confidence and excitement for athletes by providing the equipment and inspiration they need to achieve their dreams.

3. Martin Marietta Materials, Inc. (MLM)

Analyst Firm: JPMorgan
Upgrade: Neutral to Overweight
Price Target: $640
Yesterday's Close: $596.97

JPMorgan upgraded Martin Marietta to Overweight from Neutral, boosting its price target to $640 from $515.

Martin Marietta Materials (MLM) has a stock price target range with a high of $730.00, a median of $660.00, and a low of $515.00, with an average target of $653.74. As a leading supplier of building materials, Martin Marietta provides aggregates, cement, ready-mixed concrete, and asphalt. The company is a member of the S&P 500 Index.

Happy investing,

Maeve Grace
Editor In Chief
Premium Stock Alerts

Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.